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PAUL J. DEIRO APPOINTED LEGISLATIVE DEPUTY COMMISSIONER FOR CALIFORNIA DEPARTMENT OF FINANCIAL INSTITUTIONS

May 17, 2004

SACRAMENTO – California Financial Institutions Commissioner Howard Gould today announced the appointment of Paul J. Deiro as Legislative Deputy Commissioner for the Department of Financial Institutions (DFI).

Paul J. Deiro, of Sacramento, was appointed Legislative Deputy Commissioner effective May 17, 2004.

Mr. Deiro has extensive experience in policy development, budgetary and fiscal matters, and analyzing and presenting testimony on important legislative issues. Most recently, he served as Senior Consultant for the California State Assembly Republican Fiscal Committee, where his responsibilities included briefing the Vice Chair of the Assembly Budget Committee and Assembly Republican leadership on budget issues and fiscal bills pertaining to public financing, affordable housing, banking, taxation, economic development, privacy, telecommunications and energy policy.

Mr. Deiro formerly served as Director of Legislation for the Department of Housing and Community Development, was Chief Consultant for the California State Assembly Committee on Housing and Community Development and served as the Director of Legislation for the California Housing Finance Agency. Mr. Deiro has also worked on Capitol Hill for U.S. Senator Pete Wilson as a Legislative Aide.

Mr. Deiro takes over from Margaret (“Meg”) Svoboda who left DFI on May 10, 2004 to pursue other interests of a professional nature in the area of legislation and public policy.

The Department welcomes Paul and wishes Meg every success in her new endeavors.